Table 1 reports some evidence that bears directly on the above empirical question. We entertain the possibility that value can be well described by earnings and book value forecasted over a horizon as short as four years. That is, we let T = 4:
Table 1 reports some evidence that bears directly on the above empirical question. We entertain the possibility that value can be well described by earnings and book value forecasted over a horizon as short as fouryears. That is, we let T = 4: